By Phil Kabler, Charleston Gazette-Mail
CHARLESTON, W.Va. — Legislation to repeal a state law requiring the state treasurer to publish an unclaimed property list in newspapers around the state is headed to the Senate floor after advancing from the Senate Finance Committee Wednesday.
Treasurer Riley Moore told senators it currently costs the treasurer’s office about $220,000 a year to comply with the requirement by publishing the tabloid guide. That includes about $36,000 a year paid to state newspapers to place the insert in their papers.
Moore said the office could save money if it had the discretion to publish the guide just in newspapers serving rural counties, where access to the unclaimed property website is limited.
“We’d like to continue to publish in some newspapers where we think that’s a good idea,” he said.
However, Don Smith, executive director of the West Virginia Press Association, said the tabloid pays for itself, citing treasurer’s office figures showing that $18 million of unclaimed property was returned to rightful owners last year…